How to rent your car to others for $12,000/year

Rent Out Your Car on HyreCar: The Complete Guide

What we do here at HyreCar is simple: We offer a marketplace where people who want to drive for Uber or Lyft can pay vehicle owners to borrow their car, and in turn a place for car owners to put their cars up to earn some extra income.

You’ve probably heard the stories of how much money people are making driving for Uber/Lyft, either online or asking a driver yourself. But making money doesn’t stop there.

Here’s our complete guide to renting your ride out and making money ASAP.

Benefits: Why rent out your car?

We are proud of the amount of benefits owners can glean with HyreCar. Share your vehicle and you can enjoy the following:

$$ Money $$

Actual earnings from car owner’s dashboard:

Make more than $1,000/month: It’s true – Choose to rent your vehicle out and you can make great money to help knock some bills off your list, or do whatever sounds good to you (we don’t judge). If you play your cards right, $1,000 in a month is very doable. The daily rate of a rental can range from $35-$65. Owners get 85% of posted rates, plus additional funds for excess mileage when applicable. Where our competitors take, we give.

Car owners market = higher daily rental rates: There’s been no better time to make money renting your car than now. We have high demand to drive for Uber/Lyft to thank for that.

Get paid FAST and OFTEN: We mean it. With our easy to manage dashboard, you control when you get your money. Your first deposit will be made a week after your first booking,. After that, you’ll get paid on a rolling two day schedule.

Low risk

Insurance: We get it, your vehicle is your baby. Don’t fret. Share your car without worry: We provide comprehensive, double-backed insurance for all vehicles rented in our HyreCar marketplace. Our insurance meets and often surpasses state requirements. Additionally, your vehicle is also covered by Uber/Lyft insurance policies while the drivers are driving for Uber or Lyft.

Extensive background checks: Yeah, we know. You wouldn’t even let some of your family drive your vehicle. That said, rest assured knowing that our driver screening is one of our most major focuses. Our renters go through an extensive screening process.

Partnership with Zendrive: We have partnered with the exciting Zendrive, making every drive safer through effective monitoring and analytics of our drivers. Zendrive measures driver safety, from speeding to cell phone use to collision detection, using only smartphone sensors. This informations allows us to remove less-than-acceptable drivers swiftly.

Incentive to drive right: Remember that to drivers, your vehicle is their business. The incentive for a driver to treat your vehicle with respect is high. If the car is in less than acceptable shape, or in the rare instance that it’s in an accident, that means no business for the driver. We’ve known drivers to adhere closely to this behavior across the board.

Note* If you haven’t seen it yet, check out our animated video describing our service:

Congrats, your vehicle is now live on our marketplace! You can now start making money renting your car. So, more scotch?

Car listing tips:

While they aren’t mandatory, the inspections for Uber/Lyft and a basic 19-point inspection look extremely good to drivers, as they won’t have to get them done themselves individually. Owners who get these inspections done get their vehicles rented 87% more often than those that don’t!

Making Money: Actually Renting Your Vehicle Out

The final part of this is teaching you ways and best practices our owners are using to get their cars rented. Great news: Drivers are hungry for cars right now. Let’s start making money with your car.

Finding drivers

HyreCar Marketplace: Our simple, user-friendly, and vibrant marketplace is where most of our drivers find vehicles to rent. The same will go for yours. (This is where making a sweet listing really counts!) Log on and view the drivers in your area that need cars.

Driver invitation system:Drivers will be able to find your car organically through our marketplace, but you can also invite them to apply via our driver invitation system. Simply use the tool to search for drivers and invite them to apply for your vehicle. See our driver invitation page here. (Must be logged in to see drivers)

Reaching out: If the invitation system doesn’t tickle your entrepreneurial fancy, there’s an additional option for drivers to search for drivers and reach out to them personally. Owners can pay a small fee to see driver’s personal contact information and are empowered to reach out themselves to make a transaction.

Finalizing the transaction

Once you’ve found a driver you like, you’re knocking on the door of Money Town. Some final “t”s to cross and “i”s to dot.

After approving a driver: You’ll be promoted to upload your car’s registration if you haven’t yet.

Upload your vehicle registration ASAP: This will move things along much quicker once you get your first application

After registration is uploaded: You’ll be prompted to fill out a damages list.

Be as thorough as possible. Obviously.

After submitting the damages list: The insurance will be uploaded within 24 hours of the rental period to our site. The driver and you will receive an email notifying that the transaction’s insurance info is on the site.

The Pickup

Set up the time/place: Once a booking is confirmed, contact the driver to set up a pickup time and location.

NOTE: You do not have to meet at your residence. We suggest somewhere you feel most safe, like a Walmart. Unless you have bad memories at Walmart, in which case Target is a great alternative.

Inspection: When the driver gets there, they’ll inspect the vehicle for damages themselves and confirm the damages list you submitted.

Confirmation: Both you and the driver will have to confirm the pickup on our HyreCar app. ENSURE THE DRIVER DOES THIS.

Insurance will begin: Insurance begins once the pickup is confirmed by both parties.

The Dropoff

Driver is notified: Driver will be notified 24 hours before your vehicle is due back.

Driver Extensions: Drivers can choose to extend the rental at any time, based on your preferences. More money for you!

Time of dropoff: The drop-off will occur wherever the driver and owner have agreed at the time specified by the owner.

Confirm dropoff: Similar to pickup, both driver and owner will have to confirm the dropoff on the HyreCar app.

Final Thoughts

The driver demand for Uber/Lyft is incredible. If you have a vehicle that you could rent, this is an opportunity to make some great money. We hope we’ve shown you our process is well-thought out, and especially thorough when it comes to protecting the safety and property of our owners.

For any additional information, including our FAQ, please visit us at http://hyrecar.com or find us on Twitter @HyreCar.

please email me if a prius with 170,000 miles is eligible in your system for rental. I can get inspections etc on it if needed, need car eligibility list please obinolsen@gmail.com have a few cars to put on here if they will be accepted. thanks

Hi Dean, you can rent as many as you like. We have car owners with over 20 cars on the market that are pulling in $15,000-$20,000 per month. The most important factor here is where you list your cars. Certain areas have much higher demand than others.

What happens to my vehicle insurance after I list it on your platform? Do you provide coverage for the vehicle even when it’s not out for rent but still listed, or I have to maintain my personal insurance?

I am located in Kansas city. Where can I find out if demand is high here, and how much I can make renting my car? I have one coming back to me soon with a brand new engine and low miles that will be ready to be rented 24/7.

Where can i see the list of the cities you are available ? You are a list right?
Do you provide any statistics to your users such as what type of Uber services makes money the most and/or what model/make car is the most demanded one etc?

Hi Sam so I have a car which is register but has no insurance . It sits in a garage . If I would to rent it out on your platform would I need insurance ?. Remember they can pick the car up in front of my house I would never drive it. And if u say I would need insurance do u know any company who would insure a car for only the gap part of it. Remember I will never drive it . Once the person returns it it goes back in to garage ! Thanks Rico

If you can find a long term renter then you can have your car rented the entire time. Otherwise you can still rent the car out, but you’ll need to find someone to do a key exchange when you get a new rental. Luckily, with HyreCar most rentals do end up being long term.

You don’t need TLC plates, but to drive in New York you need a vehicle registered in New Jersey. Soon we’ll become nationwide to avoid this inconvenience, so please check our website frequently so you don’t miss any updates!

I have a rusty old ’89 2-door pickup that sits around waiting to haul stuff. Is there any demand for rental vehicles to move/haul people’s things? It’d be great to earn some extra cash with my old pickup, unless it’s too dilapidated to qualify. It passes inspection at least.

Hello guys, I was reading through the Q&A’s and seen that James R. responded to what appeared to be a common question amongst those seeking information. Needless to say, James went ahead and decided that it would be easiest to list every State that currently operates and allow your services. Now, I only caught a quick glance at the States listed above. I attempted to find the list again and do not see it. So I apologize if this the 100th time you’re being asked this question today.

1. My first question is whether or not you operate in Illinois. I don’t recall seeing it……however I’d rather double check and have a accurate answer.

2. I did notice that Indiana was posted on the list of approved states. Now as an Illinois resident am I able to rent my vehicle which is registered in Illinois to Indiana residents seeking a vehicle to rent?

3. If I read and understand correctly your service is entitled to 15% of every run my vehicle completest?

4. If I rent my vehicle to a driver for let’s say 3 days and fails to complete any runs….or let’s say the driver renting my vehicle completes no runs but uses my vehicle for personal use putting 150+ miles on my car? How are situations such as these handled? My last and final question is what if the driver renting my vehicle is running 10+ hours per day completing all of his runs and appears to be a great driver until he is pulled over for a simple traffic stop that goes wrong and fast. Which ultimately turns into the driver being arrested for felony drug distribution and trafficking causing my vehicle to be impounded as the driver was using my car to transport, deliver & sell narcotics?

Hey Stan, thanks for the well-formatted question! I’ll try to answer everything in a similar manner 🙂

1. Yes, we operate in Illinois!
2. We also operate in Indiana, and yes, you may rent your vehicle to others in either state.
3. Not quite; we have a 15% transaction fee on the rental cost, not your earnings. Those are yours to keep!
4. We can’t persecute a driver for not taking advantage of their opportunity; if they make no runs, they simply end up with less money in their account. As for your second, oddly specific, question, we have police recovery procedures that have a 100% success rate.

Thanks for reaching out to us, and feel free to contact us with any further questions!

Two great questions! All you need are the vehicle’s registration card and an 19-point inspection form, that you can get at any normal service station. Also, we do not yet operate in New York, but if the vehicle is registered in New Jersey then you may rent it out in either state! Thanks for reaching out to us!

In general, any vehicle that is less than 10 years old, has passed a 19-point inspection, and has 4 doors is clear to list on our platform. Also yes, if your vehicle is reported stolen we have police procedures to recover the vehicle that have to date been 100% successful. Thanks for asking!

Gas saving vehicles that have plenty of room for passengers/storage are the most sought after in general. We also have a fairly high demand for vehicles that qualify for Uber Select and Lyft Premiere in Los Angeles.

Hi! I’m thinking about getting a car solely for th solely for the purpose of renting it out and have three questions.
1. Which car or SUV has the highest demand?
2. How are tolls or airport fees charged to the renter.
3. What happens if the renter gets a parking ticket or runs a red light and caught on camera?
Thanks!

Awesome! To answer your questions:
Economic vehicles that are fuel efficient and get the best mileage typically have the highest demand from drivers (Prius, Camry, Corolla, Honda Civic, Nissan Sentra, Hyundai Sonata)
Tolls, airport fees, parking/red light tickets are sent to the vehicle owners via mail. Then you will be able to transfer the ownership of liability over to the driver for them to pay.

As I was reading through the other comments and questions above, only one of your teams answers still seems, I don’t know, a little foggy for me, so I’d like to ask it again.
Are your services currently available in either Florida or New York?

I read I get 40.00 for a days rental. Let’s say my car is rented 2 days and comes back with 200 miles on it. That’s 80.00. Nice!

According to the government, it costs 62 cents a mile to own and operate a car. It is true some of that 62 will be absorbed by the renter, but not much. Let’s say the 200 miles are costing me 40 cents a mile. 200 miles is 80.00. Not nice!

I’d like to know if this service is available in New York. If so ,I am looking to buy a used vehicle to drive for uber at times and rent out when I am not using the vehicle which would be a majority of the month. How would i go about this ? when I buy the car doI have to have my own insurance or is there some sort of “rentor insurance” ?

We are not in NY quite yet, but you are able to list your vehicle in NJ if you would like to for the time being. The drivers are required to pay for the insurance while they rent your vehicle, but we recommend that you have your own insurance as well.

Hi HyreCar
I live in Seattle WA and I have a 2017 Toyota Camry with 9000 miles. I want to rent it for a year.
Is there any long term for renting my car while I am out of the country for the whole year?

Yes, we are operational in both! If you are looking to rent your vehicle out to rideshare drivers to make some easy passive income, please email partner@hyrecar.com with any questions so we can help you get started!

Do you guys operate in ny, also how that works with the T&L, do the cars need EZ PASS. Also if i get new drivers outside of the app how i will get paid still through the app or they will have to pay me

We will officially be operational in NY in about 2 weeks, so stay tuned! The drivers will need to be signed up and registered through HyreCar (along with you/your vehicles) in order for you to get paid.

As long as your vehicle is properly registered and meets Uber and Lyft’s vehicle requirements, you will be able to list your vehicle to rent out to rideshare drivers and make some extremely easy passive income.

I have a 2009 VW Tiguan that requires premium gas (or in CO, at least mid-grade fuel) and if a driver uses only low octane fuel, the mileage and performance suffer. The vehicle is already uber and lyft approved. Is the renter obligated to follow the owner’s instructions as far as fuel requirements or any other care issues?